Burkburnett woman guilty in cattle loan scheme
VERNON, Texas — Pamela June Gulker, 50, of Burkburnett, Texas pled guilty last week to charges of Hindering a Secured Creditor, a second-degree felony. The charges are the result of an investigation conducted by Texas and Southwestern Cattle Raisers Association (TSCRA) Special Ranger Scott Williamson.
In June 2016, Williamson was contacted by the Waggoner National Bank in Vernon, Texas. Bank officials alleged that J&L Land and Cattle Company, operated by Gulker, had defaulted on a loan and criminally hindered the reposition of bank collateral. Gulker had offered more than 200 head of cattle, two tractors and other equipment as collateral to secure the loan to purchase cattle. When the bank attempted to call-in the defaulted loan, they found that most of the cattle and equipment used as collateral were gone. Williamson discovered that most of the loan funds were spent on non-farm-related expenses. Gulker also sold more than $300,000 worth of cattle and subsequently spent the proceeds, depriving the bank of both the proceeds and collateral. Likewise, the equipment was already mortgaged by other entities or sold despite the bank note. It was found that in total, Gulker disposed of more than half a million dollars in mortgaged funds and collateral.
After the extensive investigation, Williamson submitted the case to the Wilbarger District Attorney’s Office in March, and Gulker was indicted by a grand jury in June for hindering a secured creditor and false statement to obtain credit.
After the indictment, Gulker surrendered to authorities and was subsequently released on bond. Last week, on Sept. 18, 2017, Gulker pled guilty to Hindering a Secured Creditor in the 46th District Court, Wilbarger County. The presiding judge, Dan Mike Bird, sentenced her to 10 years deferred adjudication, 150 hours of community service and ordered her to pay almost $160,000 in restitution to the Waggoner National Bank.
“All too often, the cost for crimes like this are borne by the public and other borrowers, who face higher interest rates and tighter lending standards because of bad actors,” said Special Ranger Williamson. “I would like to thank the many institutions who assisted in untangling this web of deceit, as well as the Wilbarger County District Attorney’s Office for prosecuting the case.”
–Texas and Southwestern Cattle Raisers Association